S&P/Case-Shiller U.S. Home-Price Index Fell 14.4% in March

Home prices in 20 U.S. metropolitan areas fell in March by the most on record, pointing to continued weakness in the housing market that will further drag on the economy.

The S&P/Case-Shiller home-price index dropped 14.4 percent from a year earlier, more than forecast and the most since the figures were first published in 2001. The gauge has fallen every month since January 2007.

Prices continue to slide as record foreclosures put more homes on the market and stricter lending standards make it harder to get loans. Falling home values are slowing consumer spending, threatening to halt the six-year expansion.

Read Full Article from Bloomberg

- Posted: 2008-05-27 08:37:53

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